I share common walls with other unit owners in my building, if a pipe breaks causing water damage would a condo / co-op policy cover me?
Some associations state that they are responsible for this type of damage while others state that they do not cover pipes and water damage. By having your own condo/co-op insurance policy, your claims adjuster will in most cases ask to see the by laws of the contract of your association to determine whether the coverage would come from the association’s insurance or your own policy. As you can see, it is very important to obtain you own condo/co-op insurance coverage to protect yourself from unfortunate circumstances that can arise. Please feel free to fill out our easy Condo Insurance Quote Request Form and an experienced NJ insurance professional will be glad to give you more information on this most important coverage along with a fast free no-obligation price quote. • Is Condo/co-op insurance expensive? Condo / co-op insurance is not very expensive and usually costs less then a homeowner insurance policy. In most cases, excellent coverage can be obtained for under $500 per year. Mo
